President of Corporate Finance Firm Presents: ‘The Wealth of Enterprises: A New Foundation for Economics & Management’
LAGRANGEVILLE, N.Y., Feb. 9 /PRNewswire/ — In 1776, Adam Smith published “An Inquiry into the Nature and Causes of the Wealth of Nations,” the legendary work that helped birth the field of modern economics and still lives on as arguably the most influential book of its kind. Now, in 2010, William T. Nolan, President and CEO of Devonshire Holdings, Inc., introduces the Enterprise Method(R), a theory that complements Smith’s pioneering book, in “The Wealth of Enterprises: A New Foundation for Economics & Management” (published by AuthorHouse).
“A new foundation for economics and management is needed for the 21st century, that is more broadly based than the Division of Labor,” as Nolan explains. Adam Smith based his theory of economics on the Division of Labor and stated that the Wealth of Nations was the sum total of individual economic activity. However, economic activity is based on both Division of Labor and Unity of Labor, a new concept developed by Nolan. He describes clearly how the Wealth of Nations is the sum total of Enterprise activity, not individual activity. In fact, GDP is actually calculated on Enterprise output or product, not on individual output or product. The Enterprise is the key component to an economy and this book offers a deep insight into its structure and how it works at all levels and sizes.
In his revolutionary new book, Nolan works to definitively answer the age-old question “What is the Firm?” along with “Who is the Firm?” – “What does it do?” – and “Why does it exist?” According to Nolan, these are questions which have long been debated among economists with no satisfactory answers … until now. He writes:
“The Enterprise, as we call it, is the answer and it is the form of all organized human activity. The Enterprise is the way the real world works. Our intent is to show that the Enterprise is a universal concept that embraces all organized human activity. All people belong to or are involved in Enterprises. This is the first comprehensive attempt at describing and analyzing the modern Enterprise, both in theory and in practice.”
“The Wealth of Enterprises” provides readers with the definition of the Enterprise – the organizational form for all organized human activity, including business, government and family – and a method to analyze, manage and govern it. According to Nolan, the Enterprise Method (R) provides a reliable way to increase output and efficiency through a standardized process.
“These principles are intuitive and easy to understand because this is the way people truly work and live their lives in an organized manner,” Nolan explains. “Hopefully this book will assist each and every one of us in better understanding the many Enterprises in which we live and work so that we will be more productive for ourselves and the good of our fellow men and women.”
Approximately 248 Pages
8.5×11 Soft Cover
About the Author
William T. Nolan, a seasoned investment banker and CEO with over 30 years of success in corporate finance, capital markets and restructurings, is the founder of Devonshire Holdings, Inc., which provides small and medium-sized companies with financial advisory services. He holds a bachelor’s degree in economics from Tulane University and an MBA in international finance from the Harvard Business School. “The Wealth of Enterprises: A New Foundation for Economics & Management” is his first book.
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